The fund for more than 1 million workers and retirees posted an estimated negative return on investments of almost 7.5 percent.

Its estimated value at the end of June was nearly $147 billion.

DiNapoli says investments were affected by the sluggish economy and increased market volatility.

It has about half of its assets in domestic and international stocks, almost 29 percent in fixed-rate investments including cash, bonds and mortgages, 11 percent in private equity, 6.5 percent in real estate and almost 3 percent in other investments.

One comment

More of the investment genius of Tommy “Brownfield” DiNapoli. This jerk can’t balance a checkbook but if you kiss Mr. Silver’s backside for 20 years, you get to run the second largest pension fund on the planet.